Monthly Volume Profile Analysis: November

Nifty Spot Volume Profile:

The index started the month with the highs for the year at 6342.95 on Mahurat trading day on 3rd November but saw the euphoria of an all time high ending with profit booking setting in for the next few days to make a low of 5972.45. The index though covered much of its loss and ended the month on a bullish note at 6176.10, still a loss of around 2.0% for the month.

The range was 370.50, much lower compared to the last few month and the ATR(12) moved down to 460.60 points.

The Monthly Spot Profile Values are: VAH-6169, POC-6071, VAL-5972 and Monthly VWAP at 6129

Nifty as per profile has closed above all values and looks good for more, and only a close below VWAP at 6129 can see change of trend to Bearish. Staying above MVAH, a move towards all time high is possible. Till VWAP is not breached on closing basis, participants can buy with small Stop Loss for higher levels, else can sell for MPOC and MVAL.

Crucial Level for the Month is stationed at 6129 and 6071

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BankNifty Spot Volume Profile:

Bank Nifty had negative month with the index losing around 2.8%, though it made a high of 11736.20 but closed at 11153.95. The intermediate low was at 10412.00.

The ATR(12) for the month came down at 1442.22, with the range being only 1324.20 points and volatility also lower than the previous few months.

The Monthly Spot Profile Values are: VAH-11162, POC-10852, VAL-10541 and Monthly VWAP at 11016.

BankNifty as per profile has closed just a few points below VAH, which points to a range bound month, but a close above VAH for a few days can bring in higher levels at 11420 and 11740 but staying below can see lower levels at VWAP and POC. A close below POC will be sure sign of huge weakness.

Nifty & BankNifty Monthly Volume Profile Analysis - October

Nifty Spot Volume Profile Analysis :

A terrific month for the Bulls, which started from the lows on the first day at 5700.95 and closed at the high on the last day at 6299.15, a super gain of 600 points and in effect had an all time highest monthly close. Nifty is just a few points away from all time high of 6357.10 and based on the momentum it may be scaled in the first week of November.

This range for the month was 608.10, much lower than that of previous month and the ATR(12) was was 468.80 points. The big range days of September reduced drastically and we had a few 100 points days.

The Monthly Spot Profile Values are: VAH-6246, POC-6103, VAL-5960 and Monthly VWAP at 6084

Nifty as per profile has closed above all values and looks extremely strong, and only a close below VAH can see corrective towards POC at 6103 and VWAP at 6084. Till VWAP is not breached on closing basis for at least 2 days, it’s a BUY ON DIPS.

Crucial Level for the Month is stationed at 6246 and 6084


BankNifty Spot Volume Profile Analysis: 

Bank Nifty had a great month with the index adding 1855.40 points or approx 19.30%, the highest monthly gain in the last 3 years. The index closed just below the 61.8% level of the fall from 13414 to 8367, stationed at 11486..

The ATR(12) for the month was at 1453.14, upstaging the one of last month, with many 400 points day with the highest range of 599.20 on 29th October.

The Monthly Spot Profile Values are: VAH-11465, POC-10866, VAL-10267 and Monthly VWAP at 10616.

BankNifty as per profile has closed above all values areas and looks bullish. Immediate resistance is the Virgin POC at 11832. Weakness will creep in below 11465 with change of trend below 10866 or below the Monthly VWAP of 10616.